Posted: February 21st, 2023

Need By Sunday EBM Final Quiz

 

1. Business Model
Choose One • 4 points
What is a general definition of a business model?

A plan designed to facilitate employee payroll and benefits
A plan created and executed by a company to generate revenues and profits
A blueprint for the accounting department to track expenses and taxes
A report given by upper management to the board of directors of a company

2. Value Proposition
Choose One • 4 points
What is meant by a ‘value proposition’ provided by a company?

The value of a company based on the price of its stock
The amount of money needed to start up (capitalize) the business
The brand identity of the products /services that meet a need of its customer segments
The cost of doing business, including all the expenses

3. Customer Segments
Choose One • 4 points
What is meant by a target customer or customer segment?

Those who prefer to shop in stores rather than online
Any person of any age who can afford to buy the company’s products
People who keep up with advertising and are smart about brands
Specific demographics of people to whom the company wants to sell its products or service

4. Elements
Choose One • 4 points
How many building blocks or elements of a business model are there, according to the ‘business model canvas’?

Five
Six
Nine
Ten

5. Capturing Value
Choose One • 4 points
What is meant by a company ‘delivering and capturing value’ for customers?

A product or service that solves a problem for specific customers
A product or service that meets a need of specific customers
Both of the above
None of the above

6. Customer Definitions
Choose One • 4 points
In marketing or branding, a broad group of customers with similar needs, problems and interests is a:

Mass, undifferentiated market
Niche, differentiated market
Duplicative market
Non-commercial market

7. Defining Customers
Choose One • 4 points
A small group of customers with specific requirements and focused interests and preferences is:

Mass, undifferentiated market
Niche, differentiated market
Unvalued audience
Cross-over market

8. Defining the Elements (A)
Choose One • 4 points
The means by which a company delivers its products/services to specific customers is:

The value proposition
Channels of distribution
Key partnerships
Customer relationships

9. Defining Elements (B)
Choose One • 4 points
The means by which a company acquires customers, retains customers and generates repeat sales is: 

The Value Proposition
Channels of Distribution
Key Partnerships
Customer Relationships

10. Defining Elements (C)
Choose One • 4 points
The most important things that a company must do in order to create, produce, market and deliver products, to make its business work, are:

Key Partnerships
Key Activities
Key Resources
Value Proposition

11. Defining Elements (D)
Choose One • 4 points
The materials or assets that a company must have – human, financial, physical or intellectual – to make its business model work are:

Key Activities
Key Partnerships
Key Resources
Customer Relationships

12. Costs
Choose One • 4 points
The costs of doing business that remain the same, regardless of how much product is made, such as salaries, rent, or manufacturing facilities are called:

Variable costs
Fixed costs
Above the line costs
Below the line costs

13. Costs Types
Choose One • 4 points
The business costs that can change due to the amount of product or services produced/ sold, such as raw materials, shipping or attendance are called:

Above the line costs
Below the line costs
Fixed Costs
Variable Costs

14. Revenues
Choose One • 4 points
The amount of revenue remaining after all costs have been deducted and bills paid is:

Gross revenues generated
Cost of doing business
Net revenue or profit
Capitalization

15. Business Analysis
Choose One • 4 points
The analysis that allows a company to do an environmental scan of the outside forces and trends that affect a business and indicate the business model may need adjustment is:

SWOT
PEST
COST
Variable

16. Analysis Types
Choose One • 4 points
The type of business analysis that examines a company or product line’s weaknesses, strengths, threats and opportunities is known as a:

WSTO
PEST
SWOT
COST

17. Trend Forces (A)
Choose One • 4 points
If the national Congress or state passes new laws that affect corporate taxes, business regulation, safety or health restrictions, or if the U.S. becomes involved in a war abroad, what type of force or trend is it?

Economic
Political
Technological
Social

18. Trends Forces (B)
Choose One • 4 points
If there is a major bank failure, a recession, a shortage of gasoline, growing unemployment or a rally of the U.S. stock market, what type of force or trend is it?

Economic
Political
Socal
Technological

19. Trends Forces (C)
Choose One • 4 points
If the operating system of a product is updated, the way it is delivered to customers goes online or a competitor develops a more streamlined product, what type of force or trend is it?

Economic
Social
Technological
Political

20. Trends Forces (D)
Choose One • 4 points
When there is a generational shift in the age of target customers, changes cultural values
or a shift in ethnic population, what type of force or trend is it?

Economic
Technological
Social
Political

21. Business Patterns (A)
Choose One • 4 points
There are different ‘patterns’ in business models.  When a company brings two or more groups of customers together, facilitates interactions between them, and takes a fee or commission, it is a:

Open business model
Unbundled corporation
Multi-sided pattern
Free model

22. Business Patterns (B)
Choose One • 4 points
When a company sells or moves a large volume of products overall, but in small amounts of any one product (some big ‘hits’ and some not hits), to a range of niche customers it is a:

Long tail pattern
Closed model
Unbundled pattern
Bait and switch pattern

23. Conglomerates
Choose One • 4 points
When a conglomerate integrates the same product or brand over many platforms in several of its divisions or business units, it is known as:

Capitalization
Syndication
Dollar-cost average
Vertical integration

24. Celebrities
Choose One • 4 points
The business success of brands built around personalities, stars or on professional sports teams, is due in large part to:

Emotional connection to fans/customers
Strong financial foundation
Good management
Superior talent

25. Emotion-based Needs
Choose One • 4 points
Marketing and advertising often exploit emotion-based needs of potential customers.  Emotion-based needs include:

Age, gender, ethnicity
Education, income, IQ
Hobbies, interests, skills
Greed, fear, love, pride, guilt

 

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